Société Générale Subsidiary, Ethereum-based Dollar Stablecoin Launch

French major bank Societe Generale entering the stablecoin business (Source: Quest France)

Societe Generale's subsidiary SG-Forge introduces a dollar-based stablecoin. According to CryptoBriefing, the stablecoin being launched this time is issued based on the Ethereum network, primarily targeting institutional investors.

SG-Forge has shown the most proactive steps among traditional financial institutions in Europe in integrating blockchain technology and cryptocurrency, and this stablecoin launch is also interpreted as a strategy to strengthen the links between traditional finance and digital assets.